In 1954 approximately 1 out of every three black families owned or were purchasing their home. While the rate as grown to approximately 44% it lags behind almost every other demographic.
White home ownership is at approximately 74.1 percent which makes it the top of the list. Second was the Asian community at 59%. Folllowed by the Indigenous community at roughly 55%. Next came the Hispanic community at almost 49%. Bringing up the rear was the black family at 44%.
To put this in perspective the US population was approximately 150 million in 1950 with 10% identifying as black. According to census records in 2022 black population is approximately 14.6 percent or roughly 47.8 million people. Since 1950 black population has grown more than 300% yet home ownership has failed to keep pace. There are a myriad of reasons such has access to capital, slowing wage growth, and destabilization of the black family unit contributing to the disparity.
The elephant in the room is the lack of black community cohesion and the impact on typical wealth building opportunities. Only we have the incentive and ability to change the trajectory. We must learn to practice Cooperative economics. In 1954 we had 15 billion in annual buying power. In 2022 black people in America have a combined buying power of 1.6 trillion dollars. We are giving too much of it away and not creating a power base for the black voice. We are stronger collectively than we are individually.
Now that you know are you ready to get off the plantation yet??
Pay Attention!
Think!!
Eyes Wide 👀 👁 Open!!!